Ecommerce sales in UK to account for 53% of the retail market by 2028

New Ideas in MarketingEssential news for marketers, summarised by YouGov
July 08, 2019, 10:55 AM GMT+0

It currently stands at 19%.

Retail Economics and Womble Bond Dickson’s study highlights that UK ecommerce sales will account for 53% of the retail market by 2028. This growth in online sales will be driven by the changing demographics of the UK adult population, faster and cheaper in-home deliveries and reducing number of physical stores.

The growth in online shopping is being accelerated by subscription and auto-replenishment service-based business models. The research revealed that millennials are spending an average of over £42 per online transaction and £110.45 per month.

About 10% of surveyed consumers stated their intent of shopping less in physical stores over the next 12 months. The study also found that Gen Z consumers currently shop online once in 15 days. 29% of consumers over 65 years of age shop online once in a fortnight.

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